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Archives for December 2020

 Tax Table 2020 (For tax filing in 2021)

_   Tax Table 2020  - for tax filing in 2021 (Ontario Residents) Taxable Income (greater than)Federal TaxOntario TaxTotal TaxEffective RateMarginal Rate FederalMarginal Rate OntarioMarginal Rate Total $$$$%%%% 10000000001.11.1 11000011110.105.15.1 12000061610.505.15.1 1300001121120.911.65.116.6 140001161622782.015.05.120.1 150002662134793.215.05.120.1 160004162636794.215.05.120.1 170005663148805.215.05.120.1 1800071636410806.015.05.120.1 1900086641512816.715.05.120.1 20000101646514817.415.05.120.1 21000116651616828.015.05.120.1...
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RRSP – Should I Maximize?

  Common Perspective: Common perspective is: Maximize RRSP! When it comes to savings for retirement, nothing can beat RRSP!   Reality: Always consider below before investing in RRSP:   Current income level and expected tax bracket upon retirement. RRSP is...
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